Aqua Finance offers the most flexible customer repayment term options around by giving dealers access to two different types of loans: Installment Loans (closed-end) and Revolving Lines of Credit. Plus, there are no prepayment penalties for either type of loan!
Revolving lines of credit are open credit lines at your place of business. They feature a minimum monthly payment that is based on the highest amount financed. If the customer has available credit and the account is in good standing, you may process add-on sales. This is a great opportunity for you to build customer loyalty since the line of credit cannot be used at another dealership. You can also quickly and easily process repeat sales to your customers as you sell them additional products or services.
|
Revolving Lines of Credit |
Repayment Terms |
Varies Open line of credit |
Monthly Payment |
1% or more depending on the highest amount financed |
Add-on Sales |
Available if customer has available credit * |
Benefits |
Allows for low monthly payments for customers and repeat business through add-on sales |
Installment loans (closed-end) are fixed-term loans, similar to a typical auto loan. Your customer will have a fixed monthly payment for a set number of months (terms are available from 12 to 180 months). Installment loans are great for those customers who want to know exactly how much the loan will cost them over the life of the contract.
|
Installment Loans (Closed-End) |
Repayment Terms |
12, 24, 36, 48, 60, 72 & 84. |
Monthly Payment |
Varies by term |
Add-on Sales |
Not available |
Benefits |
Fixed payments and repayment term |
*Some restrictions may apply for add-on loans. For questions on add-ons give us a call at 1-800-234-3663, option 4, ext. 6098.